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we have to close our deficit. we will discuss how we deal with our tax code and how we make sure we are reducing spending in a response away and have enough revenue to make those investments. governor romney's central economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cut. $2 trillion in additional military spending -- how we pay for that, reduce the deficit and making the investments we need without dumping the cost on the middle- class americans. that is one of the central questions of this campaign. >> you have spoken about a lot of different things. governor romney, do you have a question you would like to ask directly about something he just said? >> i do not have a tax-cut scale you're talking about. we have to provide tax relief to people in the middle class. i will not reduce the share of taxes paid by high income people. they are doing fine in the economy. the people who are having a hard time are middle-income americans. under the president's policies, they have been bu
we have to close our deficit. we will discuss how we deal with our tax code and how we make sure we are reducing spending in a response away and have enough revenue to make those investments. governor romney's central economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cut. $2 trillion in additional military spending -- how we pay for that, reduce the deficit and making the investments we need without dumping the cost on the middle- class americans. that is one...
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he said he would cut the deficit in half. we still have trillion dollar deficits. if you are reelected, we will get to a trillion dollar debt. you have said he will cut the deficit in half. you find $4 trillion in cuts. we still show trillion dollar deficit a year. that does not get the job done. why is it that i do not want to raise taxes? i do not want to raise taxes on people. in 2010, he said he would extend the tax policies we have now and not raise taxes because when the economy is going so like this, you should not raise taxes on anyone. the economy is still going slow. it is growing more slowly now than when he made that statement. if he believed the same thing -- the reality is it is not as wealthy people. it is not just donald trump you are taxing. it is the people that employ 1 quart of the workers that are taxed as individuals. you raise taxes and kill jobs. that is why the national federation of independent businesses said your plan will kill 7000 jobs. >> but stay on the tax system for a moment. the deficit there has to be revenue in addition to cuts.
he said he would cut the deficit in half. we still have trillion dollar deficits. if you are reelected, we will get to a trillion dollar debt. you have said he will cut the deficit in half. you find $4 trillion in cuts. we still show trillion dollar deficit a year. that does not get the job done. why is it that i do not want to raise taxes? i do not want to raise taxes on people. in 2010, he said he would extend the tax policies we have now and not raise taxes because when the economy is going...
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no tax cut that adds to the deficit. i do want to reduce the burden being paid by middle income americans. that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is simply not accurate. -p>> let's talk about taxes, because i think it is instructive. four years ago when i stood on the stage, i said that i would cut taxes for middle-class families. that is exactly what i did. we cut taxes for middle-class families by about $3,600. the reason is because i believe that we do best when the middle- class is doing well. by giving them those tax cuts, they have more money in their pocket. maybe it does not buy new car. they are in a better position to weather the extraordinary recession we went through. they may be able to buy new computer for their kid who is going off to college. governor romney's proposal that he has been promoting for 18 months calls for of five trillion dollars tax cut on top of $2 trillion of additional spending for our military. he is saying he is going to p
no tax cut that adds to the deficit. i do want to reduce the burden being paid by middle income americans. that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is simply not accurate. -p>> let's talk about taxes, because i think it is instructive. four years ago when i stood on the stage, i said that i would cut taxes for middle-class families. that is exactly what i did. we cut taxes for middle-class families by about $3,600. the reason...
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that's the big driver of our deficits right now. my grandmother, some of you know, helped to raise me, and my grandparent did. my grandfather died a while back. my grandmother died three days before i was elected president. she was fiercely independent. only with a high school education, started as a secretary and ended up being vice president of a local bank. she ended up living alone by choice, and the reason she could be independent was because of social security and medicare. she had worked all her life, put in this money, and understood that there was a basic guarantee under which she could not go. that's the perspective i bring when i talk about what's called entitlements. the name implies some sort of dependency on the part of folk. these are folks that have worked hard, like my grandmother and millions are counting on this. my approach is to say how do we strengthen the system over the long term? in medicare, what we did, we said we are going to have to bring down the costs if we are going to deal with long-term deficits. to
that's the big driver of our deficits right now. my grandmother, some of you know, helped to raise me, and my grandparent did. my grandfather died a while back. my grandmother died three days before i was elected president. she was fiercely independent. only with a high school education, started as a secretary and ended up being vice president of a local bank. she ended up living alone by choice, and the reason she could be independent was because of social security and medicare. she had worked...
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no tax cut that adds to the deficit. but i do want to reduce the burden being paid by middle income americans, and to do that, that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is simply not accurate. >> mr. president. >> obama: let's talk about taxes, because i think it's instructive. now four years ago when i stood on this stage, i said that i would cut taxes for middle class families, and that's exactly what i did. we cut taxes for middle class families by about $3,600 and the reason is because i believe that we do best when the middle class is doing well and by giving them those tax cuts they had a little more money in their pocket, so maybe they can buy a new car, they are certainly in a better position to weather the extraordinary recession we were in to. they are spending more money. businesses have more customers, make more profits, and hire more workers. now governor romney's proposal calls for a $5 trillion tax cut on top of $2 trillion of additional spending
no tax cut that adds to the deficit. but i do want to reduce the burden being paid by middle income americans, and to do that, that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is simply not accurate. >> mr. president. >> obama: let's talk about taxes, because i think it's instructive. now four years ago when i stood on this stage, i said that i would cut taxes for middle class families, and that's exactly what i did. we cut taxes...
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said you'd cut the deficit in half, it's now four years later, we have $1 trillion deficits, the cbo says we'll have a $1 trillion deficit each of the next four years. if you're re-elected, we'll get to a $1 trillion debt. and i love this idea of $4 trillion in cuts. you found $4 trillion of ways to get closer to a balanced budget, yet we still show $1 trillion deficits every year. that doesn't get the job done. let me come back and say, why is it that i don't want to raise taxes. well, i don't want to raise taxes on people. and you said it back in 2010. you said, i'm going to extend the tax policies that we have. i'm not going to raise taxes on anyone, because when the economy is growing slow like this, when we're in recession, you shouldn't raise taxes on anyone. well, the economy is still growing slow. as a matter of fact, it's growing much more slowly now than when you made that statement. so if you believe the same thing, you just don't want to raise taxes on people, and the reality is, it's not just wealthy people. you mentioned donald trump. it's not just donald trump you're t
said you'd cut the deficit in half, it's now four years later, we have $1 trillion deficits, the cbo says we'll have a $1 trillion deficit each of the next four years. if you're re-elected, we'll get to a $1 trillion debt. and i love this idea of $4 trillion in cuts. you found $4 trillion of ways to get closer to a balanced budget, yet we still show $1 trillion deficits every year. that doesn't get the job done. let me come back and say, why is it that i don't want to raise taxes. well, i don't...
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you said you would cut the deficit in half. and we'll have a trillion dollar deficit each of the next four years. if you are re-elected we'll get to a trillion dollar deficit. you said before you would cut it in half. i love this idea of $4 trillion in cuts. you've found $4 trillion to get closer to a balanced budget, yet we still have trillion dollar deficits every year. let me come back -- why don't i want to raise taxes? why don't i want to raise taxes on people? and actually you said it. back in 2010, you said, look, i'm going to extend the tax policies we have. i won't raise taxes on anyone. when we're in a recession, you shouldn't raise taxed on anyone. the economy is still growing slow. as a matter of fact, it's growing much more slowly now than when you made the statement. if you believe the same thing, you don't want to raise taxes on people. and the reality is, it's not just wealthy people, not just donald trump are you taxing. it's all the businesses that employ one quarter of the workers in america, that are taxes a
you said you would cut the deficit in half. and we'll have a trillion dollar deficit each of the next four years. if you are re-elected we'll get to a trillion dollar deficit. you said before you would cut it in half. i love this idea of $4 trillion in cuts. you've found $4 trillion to get closer to a balanced budget, yet we still have trillion dollar deficits every year. let me come back -- why don't i want to raise taxes? why don't i want to raise taxes on people? and actually you said it....
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Oct 1, 2012
10/12
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there will still be a substantial deficit, but it will be smaller. president obama's main contribution to this $16 billion debt, which is a trillion dollar debt, a ten-year figure projecting out ten years was the stimulus bill, which is $800 billion, which i believe was a good thing to do. i think that might be bigger without it. it kept people working and paying taxes and off the government payrolls. because it created new jobs. if you look at his annual spending budgets, they are about 2% increase. that's less than the rate of inflation. so, i think that the reason that i believe he'lwin re-election is we are beginning to recover. we have a higher rate of job creation since the recession bottomed out in the middle of 2009 than in the previous eight years. and, we are moving in the right direction and the policies he's advocated are going to produce good economic results. if people thought it was like another recession, he would be in trouble. it's not like another recession. they know it. >> people say the paralysis in washington, the inability to
there will still be a substantial deficit, but it will be smaller. president obama's main contribution to this $16 billion debt, which is a trillion dollar debt, a ten-year figure projecting out ten years was the stimulus bill, which is $800 billion, which i believe was a good thing to do. i think that might be bigger without it. it kept people working and paying taxes and off the government payrolls. because it created new jobs. if you look at his annual spending budgets, they are about 2%...
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the reason i am in the race, people are hurting in this country and the deficit could crushh the future generation and what is happening in the middle east and developments around the world is a real concern and republicans and democrats both love america, but we need to have leadership. leadership in washington to bring people together and get the job done and could not care a less it is republican or democrat. i have done it before and i will do it again. >> you agree with that. >> yes. what was so powerful for you listening to the debate. >> the fact that he will bring people together and work with both asked and come to an agreement and move forward. >> and frank lunt will be live on "fox and friends" at 6:45 with more focus group reaction to president obama and mitt romney's performance last night. >> good stuff there. >> he paid what the dealer quoted him, how did one guy end up in police custody after buying an suv? >> what did you think of last night's debate. your e-mails next. and now brin - on brian kilmeade what is coming up next. >> we'll have instant analysis on that and f
the reason i am in the race, people are hurting in this country and the deficit could crushh the future generation and what is happening in the middle east and developments around the world is a real concern and republicans and democrats both love america, but we need to have leadership. leadership in washington to bring people together and get the job done and could not care a less it is republican or democrat. i have done it before and i will do it again. >> you agree with that....
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or the deficit or the debt or the lack of job creation. we're showing video you saw annoyance, i felt throughout the night with president obama. he wasn't looking down at notes and looking for jim lehr to bail him out. >> barack obama is used to being sheltered and coddled by the media. and by those surrounding him. tonight he wasn't able to rely on that kind of comfort zone he's used to. the reason he seems to inept tonight and kind of disenchanted and disconnected is finally there is a record that he can be called out on and that is what mitt romney was supposed to do and what he did. he succeeded tonight in calling barack obama out on broken promises and can't wait for the next debate. and failed poll sthaiz barack obama didn't want to repeat z again without having that teleprompter in front of him to basically tell him what to say. that is why we saw this ineptness tonight. >> sean: did he not have an answer for $716 billion he took out of medicare. he didn't have an answer for social security. this is not an entitlement. this is what?
or the deficit or the debt or the lack of job creation. we're showing video you saw annoyance, i felt throughout the night with president obama. he wasn't looking down at notes and looking for jim lehr to bail him out. >> barack obama is used to being sheltered and coddled by the media. and by those surrounding him. tonight he wasn't able to rely on that kind of comfort zone he's used to. the reason he seems to inept tonight and kind of disenchanted and disconnected is finally there is a...
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no tax cut that adds to the deficit. but i do want to increase the dividend being paid to middle income americans, so i cannot reduce the burden paid by high-income americans. so any language to the contrary is simply not accurate. >> mr. president? >> well, i think, let's talk about taxes, because i think it's instructive. now, four years ago when i stood on this stage, i said that i would cut taxes for middle class families. and that's exactly what i did. we cut taxes for middle class families by about $3,600. and the reason is, because i believe that we do best when the middle class is doing well. and by giving them those tax cuts, they have a little more money in their pocket. so maybe they can buy a new car. they are certainly in a better position to weather the extraordinary recession that we've went through. they can buy a computer for their kid, who's going off to college. which means they're spending more money, businesses have more customers, businesses make more profits, and then hire more workers. now, govern
no tax cut that adds to the deficit. but i do want to increase the dividend being paid to middle income americans, so i cannot reduce the burden paid by high-income americans. so any language to the contrary is simply not accurate. >> mr. president? >> well, i think, let's talk about taxes, because i think it's instructive. now, four years ago when i stood on this stage, i said that i would cut taxes for middle class families. and that's exactly what i did. we cut taxes for middle...
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you have a two letter $60 billion deficit. you will not slow the spending. you refuse to do that. >> as we get closer to this year's first presidential debate, we're taking a look at some debate from our archives starting with president reagan at 7:00 p.m. eastern. later, it is the 1992 debate between president bush, bill clinton, and ross perot. and then it is our core and george w. bush. they're all tonight here on c- span. >> every generation through our history has worked and sacrificed to meet a better country to their children and grandchildren and future generations. we read then spending the money. we are now much more spending their money. we are leaving them a mess. it will be very difficult to deal with. if we are that week, and just think of who want to come here first and take us over. the last thing i want to see is our country taken over because we're so financially weak we cannot do anything. we're moving in that direction. we are on the edge of the cliff. we have to start fixing it now. otherwise, we are leaving a disaster. we could even los
you have a two letter $60 billion deficit. you will not slow the spending. you refuse to do that. >> as we get closer to this year's first presidential debate, we're taking a look at some debate from our archives starting with president reagan at 7:00 p.m. eastern. later, it is the 1992 debate between president bush, bill clinton, and ross perot. and then it is our core and george w. bush. they're all tonight here on c- span. >> every generation through our history has worked and...
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democrats to be talking about new spending at a time when people are very concerned about debt and deficit. but as these folks continue to believe that their man is going to carry the day on november november 6th, they probably want to get in line first. neil: if there is always the risk when word of this leaks out that they look like they are decorating the office before they are guaranteed they're going to have it. now, if you are barack obama you already have it. what is to stop you from san amide looked at that new drug. you know what i mean. it does seem to be a sense that, you know, they are planning for a victory that might not happen. if this gets out then it could strike a lot of voters as, at the very least, arrogant. >> i think that they are forgetting that president obama is not the only piece of the puzzle. you still have a republican house which republicans that it will a lot to. mitt romney loses, paul ryan will still be the budget chairman. democrats can line up all these big spending initiatives if they want to, but the fact is that the house is still going to be majority
democrats to be talking about new spending at a time when people are very concerned about debt and deficit. but as these folks continue to believe that their man is going to carry the day on november november 6th, they probably want to get in line first. neil: if there is always the risk when word of this leaks out that they look like they are decorating the office before they are guaranteed they're going to have it. now, if you are barack obama you already have it. what is to stop you from san...
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if you think about it i would argue that the inability of the government to fix this borrowing debt deficit issue in the book, vice president biden's chief of staff, talking about the economic crisis in 2011, that's exactly what is going on. there is so much evidence that it is the biggest future. we are on the path becoming europe and greece. you just can't keep borrowing money. there is a stunning and fiction in this country, and we need some sort of we need some serious intervention. in the book, what i attempt to do is take people to the presidents and leaders and tell you exactly because of the luxury of time and my publisher, simon & schuster, i declined to get the meeting notes to get the exact detail to interview president obama and speaker boehner and the key players in this. i just want to take one quick snapshot from what happened that we didn't know about, which is critical. when the cops pull up less when the president was upset, he called the congressional leaders on a saturday morning at 11:00 o'clock a.m. the democratic and republican leaders were trying to work out their ow
if you think about it i would argue that the inability of the government to fix this borrowing debt deficit issue in the book, vice president biden's chief of staff, talking about the economic crisis in 2011, that's exactly what is going on. there is so much evidence that it is the biggest future. we are on the path becoming europe and greece. you just can't keep borrowing money. there is a stunning and fiction in this country, and we need some sort of we need some serious intervention. in the...
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we ended up moving from surplus to deficits. and it all culminated in the worst financial crise since the great depression. bill clinton tried the approach that i'm talking about. we created 23 million new jobs. we went from deficit to surplus, and businesses did very well. so in some ways, we've got some data on which approach is more likely to create jobs and opportunity for americans and i believe that the economy works best when middle-class families are getting tax breaks so that they've got some money in their pockets, and those of us who have done extraordinarily well because of this magnificent country that we live in, that we can afford to do a little bit more to make sure we're not blowing up the deficit. >> jim, the president began this segment, so i think i get the last word, so i'm going to take it. >> lehrer: you're going to get the first word in this segment. >> let me just make this comment-- let me repeat what i said. i'm not in favor of a $5 trillion tax cut. that's not my plan. my plan is not to put in place a
we ended up moving from surplus to deficits. and it all culminated in the worst financial crise since the great depression. bill clinton tried the approach that i'm talking about. we created 23 million new jobs. we went from deficit to surplus, and businesses did very well. so in some ways, we've got some data on which approach is more likely to create jobs and opportunity for americans and i believe that the economy works best when middle-class families are getting tax breaks so that they've...
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one more point*. >> we had this discussion before the. >> in order to reduce the deficit there have to be revenue in addition to cut. >> mitt romney has ruled out revenue. >> absolutely. neil: okay. i think the gist of that was how to get the deficit under control in have to have a mix of spending cuts and tax increases. and what about the president in a mitt romney to some ratio? and that it would not cut it for him. i don't think he scored. i think romney clearly one. he does need to provide more specifics, but i think he was in command. he made a couple of statements that need to be clarified. and he does not want more revenue but he wasn't true growth not taxes. what do you define as more revenue? as compared to current gdp your under current law? we are under much higher levels than before. to thing surprised me. obama's said social security doesn't have a problem. it needs tweeting. it is underfunded $8 trillion and he also said his idea was not that different than governor romney's. especially since the president has not said much but when the president compared himself to bill
one more point*. >> we had this discussion before the. >> in order to reduce the deficit there have to be revenue in addition to cut. >> mitt romney has ruled out revenue. >> absolutely. neil: okay. i think the gist of that was how to get the deficit under control in have to have a mix of spending cuts and tax increases. and what about the president in a mitt romney to some ratio? and that it would not cut it for him. i don't think he scored. i think romney clearly one....
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Oct 4, 2012
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no tax cut that adds to the deficit. i want to reduce the burden being paid by middle income americans. to do that, that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is not accurate. >> let's talk about taxes, because i think it is instructive. four years ago when i stood on this stage i said i would cut taxes for middle class families. that's exactly what i did. we cut taxes for middle class families by about $33,600. -- by about $3,600. the reason is, i believe we do best when the middle class does well. and by giving them those tax ts, they have a little more money in their pocket so maybe they can buy a new car. they are certainly in a better position to weather the extraordinary recession we went through. they can buy a computer for their kid who is going off to college. it means they are spending more money, businesses have more profits and then hire more workers. now governor romney's proposal that he's been promoting for 18 months calls for a $5 trillion tax cu
no tax cut that adds to the deficit. i want to reduce the burden being paid by middle income americans. to do that, that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is not accurate. >> let's talk about taxes, because i think it is instructive. four years ago when i stood on this stage i said i would cut taxes for middle class families. that's exactly what i did. we cut taxes for middle class families by about $33,600. -- by about...
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no tax cuts as to the deficit. but i do want to reduce the burden being paid by middle income americans. to do that that means i cannot reduce the burden paid by high income americans. any language to the contrary simply not accurate. >> moderator: mr. president. obama: let's talk about taxes because they think it is instructive. four years ago when i stood on the stage, i said that i would cut taxes for middle-class families and that's exactly what i did. we cut taxes for middle-class families by about $3600. and the reason is because i believe that we do best when the middle class is doing well. and by giving them those taxes, they have a little more money in their pocket, so maybe they can bite in your car. they are certainly a better position to weather the extraordinary recession we went through. they can buy a computer for the kid going to college. they can spend my money, business have more profits and hire more workers. now, governor promised proposal that has been promoted for 18 months calls for a $5 tril
no tax cuts as to the deficit. but i do want to reduce the burden being paid by middle income americans. to do that that means i cannot reduce the burden paid by high income americans. any language to the contrary simply not accurate. >> moderator: mr. president. obama: let's talk about taxes because they think it is instructive. four years ago when i stood on the stage, i said that i would cut taxes for middle-class families and that's exactly what i did. we cut taxes for middle-class...